1603 Mahan Ave
Richland WA 99354

1603 Mahan Avenue

1603 Mahan Ave Richland WA 99354

Listing #: 690021 | Status: Available | Last Modified: 1/2/2025 |

For Sale
Derrick Stricker, CCIM, SIOR
  • Phone:(509) 430-8533
  • Email:derrick@strickercre.com
  • Office Name:StrickerCRE
  • Office Phone:(509) 591-9949
  • Office Website:
Jazmine Murillo
Showing Instructions
  • Call Listing AgentNo
  • Use DiscretionNo
Price Information
  • Listing Price$ 1,540,000.0
  • $/SF$ 285.9
  • $/Unit$ 1,540,000.0
  • Listing StatusAvailable
  • Days on Market37
  • Asset ClassMulti-Family
  • Terms
Investment Information
  • Investment Type
  • Investment PropYes
  • Gross Income0
  • Vacancy Factor %0.00%
  • Operating Expenses0
  • Net Operating Income0
  • CAP Rate 5.35 %
Detail Listing Information
  • Min Total SF0
  • Max Total SF0
  • Lease Rate Low$ 00.0
  • Lease Rate High$ 00.0
  • Heat Source
  • Total Units
Utilities
  • Water
  • Electricity
  • Storm Sewer
Retail Information
  • SignageSignage on Building and Freestanding
  • Anchor
Associated Files
Building Information
  • Building StatusExisting
  • # of Buildings5
  • # of Floors1
  • # of Units5
  • # of Elevators
  • Clearance Height Min
  • Clearance Height Max
  • Bay Depth
  • Total Building SF5387
  • Net Rentable Area5387
  • Total Office SF
  • Largest Contiguous SF
  • Lot SF8407
  • Acres0.19
Property Type
  • Property TypeMulti-Family
  • Office Type
  • Building Class
Location
  • CountyBenton
  • Vicinity
  • Location Description
  • Second Address
  • Cross Street
  • Market AreaBenton County
  • Tax ID #103981020739018
  • Additional Parcels
  • ZoningR1
Construction
  • Year Built1948
  • Year Renovated
  • Completion Date
  • Roof Type
  • Construction Type

Fully Leased Residential Portfolio

Public Comments

Opportunity to acquire the Richland Residential Portfolio (RRP), a collection of five fully leased residential properties located in Richland, Washington. These properties present an exceptional investment for those looking to secure a stabilized income-generating asset with significant potential for growth. With a proven track record of strong occupancy, long-term tenants, and under-valued rental rates, the portfolio offers both immediate cash flow and future upside. Proforma Rents are at $99k for the Portfolio with aNet Operating Income of $82k. 5.35% CAP rate, $285/SF or $308k per door. All 5 properties are within 1 mile of each other and takes 10 minutes to drive the portfolio making it easy to Manage. Must purchase entire portfolio, will not break up individually. Call LA for more inf

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